JioStar Layoffs: Over 1,100 Employees Affected, Severance Packages Offered

JioStar, a joint venture between Reliance Industries' Viacom18 and The Walt Disney Co.'s India unit, is laying off over 1,100 employees due to overlapping roles. The layoffs started a month ago and will likely continue until June. Affected employees are being offered severance packages ranging from six to 12 months' salary, depending on their years of service.

The layoffs have impacted multiple departments, including distribution, finance, commercial, and legal. Employees of various ranks, from entry-level to senior managers and even assistant vice-presidents, are affected. However, the sports department has been spared due to major events like the Champions Trophy, Women’s Premier League (WPL), and Indian Premier League (IPL).

Some employees, especially those in tech and digital services, may be offered roles within Jio or the larger Reliance ecosystem. Those affected are receiving one month’s salary for every year worked, along with a notice period payout. Employees who haven't completed the five-year tenure required for gratuity are also receiving a pro-rata payout.

JioStar is valued at ₹70,352 crore, with Reliance holding a majority stake through Viacom18, while Disney owns 36.84%.